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Open Enrollment Deadline Is Almost Here

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Don’t Miss The Open Enrollment Deadline

Have you already signed up for health insurance for 2015? If you have not, there is no better time than now since the open enrollment period deadline is on February 15th. If you do not sign up for health insurance through open enrollment, you will be left without coverage for the entire year and will have to pay much heavier fines than in the past.

If you had enrolled in health insurance for 2014 through open enrollment, you have the opportunity to simply renew your policy for 2015. However, you should take the time to look at all the policies that are available since your policy may have changed, leaving you with less coverage and higher premiums. If you were automatically enrolled in a plan that has already began its coverage, you still have the opportunity to switch your plan any time before February 15th.

If you do not sign up for health insurance before February 15th, you will have to face very high penalties. The penalty for not having health insurance in 2015 is either $325 per adult in your household and $162.50 per child, or 2 percent of your total household income for the year (whichever amount is higher). The penalty will be paid through your 2015 federal income tax. Since federal income taxes are not typically filed until the following year, you will most likely pay the fine in early 2016.

The only way you can sign up for health insurance outside of the open enrollment period is if you have a qualifying life event. Some of the most common qualifying life events include getting married or divorced, moving your permanent residence to a different state, or leaving incarceration.

For all of your Conejo Valley health insurance policy needs for 2015 and to ensure that you have the right amount of coverage, contact the insurance professionals at Cappuccino Insurance Agency in Westlake Village, California.

Open Enrollment is Open!

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Have you signed up for your health care coverage for 2015 yet? If you have not, make sure to sign up before the Open Enrollment period ends on February 15, 2015. If you do not sign up for a new health insurance plan, you will face more expensive fines than ever before and will not be able to sign up until the next Open Enrollment period. If you do not sign up for health insurance, you will be fined 2 percent of your yearly household income, or $325 per person for the year, whichever is more expensive.

The only way that you can sign up for health insurance outside of the Open Enrollment period is if you qualify for a Special Enrollment period. Some of the most common qualifying life events include:

  • Getting married or getting divorced.
  • Moving your permanent residence to a different state that does not offer the same health insurance that you previously had.
  • Having a baby, adopting a child, or putting a child up for adoption.
  • Having a change in your household income status that changes your eligibility for cost sharing reductions of tax credits.
  • Gaining status as a member of a federally recognized shareholder or tribe in an Alaska Native Claims Settlement Act Corporation. If you are a member of a federally recognized Indian tribe, you can change your plan or enroll in a new plan once a month throughout the year.
  • If you lost your health insurance because you lost your job, aged off of your parent’s health insurance plan, lost your eligibility for CHIP or Medicaid, or any other similar circumstance.

For all of your health insurance needs throughout the Conejo Valley, contact the insurance professionals at Cappuccino Insurance Agency in Westlake Village, California.